A new round of crackdown on financial "black and gray" industries has begun, including illegal online lending platforms and loan facilitation agencies.

【Caixin】 In recent years, consumer disputes in the financial sector have occurred frequently, illegal intermediaries have given rise to disorderly practices, and a complete black-and-gray industrial chain has emerged. From June to November 2025, the Ministry of Public Security worked together with the State Financial Regulatory Administration to carry out a 6-month campaign to crack down on clustered illegal and criminal activities involving “black-and-gray enterprises” in the financial sector. Recently, the two departments have launched a new round of efforts to crack down on clustered illegal and criminal activities involving “black-and-gray enterprises,” focusing on priorities that have changed compared with the previous round.

On April 2, 2026, the Economic Crime Investigation Bureau of the Ministry of Public Security and the Enforcement and Inspection Bureau of the National Financial Regulatory Administration held a video conference to jointly deploy a new round of crackdowns on clustered illegal and criminal activities involving “black-and-gray enterprises” in the financial sector. They will further rectify disorder caused by illegal financial intermediaries, resolutely safeguard financial regulatory order, effectively protect the legitimate rights and interests of financial consumers, and strive to provide high-level security to support the high-quality development of finance.